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Saftec fiscal Q1 loss widens 61.0% YOY

Saftec Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was a loss of ¥155.18 per share, compared with a loss of ¥96.37 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥77.5 million, compared with a loss of ¥48.1 million in the year-earlier period.

The normalized profit margin dropped to negative 4.5% from negative 2.8% in the year-earlier period.

Total revenue came to ¥1.72 billion, compared with ¥1.71 billion in the prior-year period, and total operating expenses increased year over year to ¥1.83 billion from ¥1.78 billion.

Reported net income totaled a loss of ¥105.0 million, or a loss of ¥210.25 per share, compared to a loss of ¥48.0 million, or a loss of ¥96.12 per share, in the prior-year period.

As of Aug. 8, US$1 was equivalent to ¥101.85.